After the bankruptcy of MV Werften, the shares of the Asian owner Genting Hong Kong collapsed when trading resumed on Thursday.
By the close of trading on the Hong Kong stock market, the price had fallen 56 percent.
Trading was suspended last Friday against the backdrop of the tug-of-war over the future of MV Werften in Mecklenburg-Western Pomerania and Bremerhaven.
In a message to its investors, the group emphasized again on Thursday that it was not guaranteed that Genting would be able to service its financial liabilities.
In addition, reference was made to the expected decision of the Schwerin District Court on January 17 on the disbursement of the loan from the state of Mecklenburg-Western Pomerania of 78 million euros (88 million US dollars).
Possible liabilities in the billions
The unpaid loans from the state and federal government seem small compared to the claims that Genting could still face.
As the company announced, the bankruptcy of MV Werften has given other lenders the right to claim back funds of up to just under 2.8 billion US dollars (2.4 billion euros).
So far, however, none of the investors have done so, it said.
The Asian tourism group Genting Hong Kong bought the shipyards in 2016 to build cruise ships for their own use.
He operates ships under the brands Star Cruises, Dream Cruises and Crystal Cruises as well as Resorts World Manila (RWM).
The corona pandemic had brought business into trouble.
Behind the company is a conglomerate of the Malaysian casino magnate and billionaire Lim Kok Thay.
For eight MV Werften companies, bankruptcy applications were filed with the Schwerin District Court on Monday.
The Genting Group also includes the Bremerhaven-based Lloyd shipyard, which also went bankrupt.